Boat floating on gorgeous blue waters

Tips to Get The Best Boating Insurance Coverage

Boat Insurance

If you have a boat and love boating, you can greatly benefit from a great boating insurance policy. If you have a boat you are likely spending your summer weekends on the waters with your friends or family. However, being on the water comes with its own set of risks. If something goes wrong and your boat gets damaged or capsizes unexpectedly, what do you do? Well, unless you are rich enough to pay for all repairs or medical expenses from your own pocket, then it is probably a good idea to have good boating insurance.

What is Boat Insurance?

Boating insurance is a type of marine insurance that covers boats, yachts, and other marine vessels against losses arising from damage or injury to third parties or to the vessel itself. Boating insurance may also be known as marine, yacht, or boat insurance. Marine insurance covers all vessels, including commercial boats, fishing boats, and pleasure crafts such as jet skis, boats, yachts, and other watercraft. The coverage provided by boating insurance varies by type of policy but generally includes liability and medical payments coverage.

Why Do You Need Boat Insurance?

Protecting Your Investment:

This is the first and foremost reason you need boat insurance. You may have spent significant money on buying your boat, paying off instalments, and maintaining it. There may also be some repairs or major damage done to your boat. In this case, you can claim the money when you get the best boat insurance coverage.

Safety of others:

If you are on the waters, there are chances that you might hit someone’s boat or property. If this happens, there will be repair bills and reparations that you will have to pay. Similarly, if there is someone else on the waters who hits your boat and causes damage, you will have to pay for it.

Legally Required:

In some states, boating without insurance is illegal. This is because insurance is the only way for a boat owner to be financially responsible for any damages caused due to negligence.

Types of Boating Insurance Coverage

Boating insurance is generally divided into three types:

Marine Hull:

Marine Hull coverage protects your boat from damage, theft, or sinking.

Marine Liability:

Its coverage protects you from claims or lawsuits if someone is injured while on or near your boat or if they are injured on the shore while working on your boat.

Medical Payments:

Its coverage pays for medical treatment incurred by someone injured while on or near your boat.

Tips to Get The Best Boat Insurance Coverage

Do your homework:

You will have to spend some time reading and comparing policies before you decide on your coverage. You can also get a free quote from an insurance broker like Matt Patterson.

Keep Your Boat Seaworthy:

This is the best way to protect your boat from any unfortunate incident. It can also help you to lower the cost of premiums.

Find out if your insurance company offers coverage for your boat: Some companies may not offer the same type of coverage. In this case, you will have to get two policies: one for your boat and another for your other marine assets.

Consider Coverage for Towing and Slip Fees:

You can add these as add-ons to your coverage. Ask your insurance broker how to do this.

Estimate the Value of Your Boat:

If you have more boats, it is better to get the value of each separately.


Now that you know the importance of boat insurance, it’s time to get the best boat insurance coverage. Before you do that, you need to know your boat’s value and know what type of coverage you need. It’s also important to know whether your insurance company offers coverage for your boat. Once you have this information, you can compare different policies and get the best boat insurance coverage for yourself. If you need help or have any questions, contact Matt Patterson Insurance Company, we would be happy to help.

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